John Alexander won Bennelong, but Maxine McKew takes the property points
The bare-knuckle political battle for the seat of Bennelong has had its property conclusion following a $1.76 million weekend auction result. The political victor, the former tennis great John Alexander, has finally offloaded his Lindfield home (pictured above) following his relocation into his lower north shore electorate.
But the sale price didn't cover his conveyancing costs.
The four-bedroom property, Lancaster House, set on the upper north shore had been initially expected to fetch more than $2 million on its failed March listing. Alexander had paid $1.7 million in 2007.
The Alexander family has bought a modern four-bedroom residence in Putney for $1,845,000.
The former ALP MP Maxine McKew and her partner, political strategist Bob Hogg, sold their house in Epping (pictured above) in the Bennelong electorate for $1,065,000, and were the property victors.
With McKew and Hogg heading off to Melbourne, St Elmo, their 1902 three-bedroom house, had been tipped to fetch $950,000-plus at its March auction through McGrath Epping agent Wayne Vaughan. McKew and Hogg bought the property for $860,000 when they moved from Mosman before McKew's 2007 election victory over then prime minister John Howard.
McKew, now working with the not-for-profit organisation Social Ventures Australia, lost the seat of Bennelong to Alexander by 5,300 votes after a 4.5% swing.
McKew and Hogg’s price gain reflected 5.5% annual growth, compared with Alexander's 0.8% annual price growth.
McKew and Hogg have recently since spent $1.24 million on a Southbank residential/commercial office warehouse complex.
The three-level building (pictured above) has fitted offices and caretaker residence only a short walk to the city and Yarra promenade.
It was marketed as offering a flexible floorplan plus double garage by its listing agent James Keep at Cayzer Real Estate when sold by Westmont Holdings Bruce Barron.
